Home » Can Hedera’s NFT growth have HBAR proving its mettle in the crypto market

Can Hedera’s NFT growth have HBAR proving its mettle in the crypto market

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HBARs, Hedera network native cryptocurrency, which has seen positive growth over the past seven days. However, the network had much more. In addition to HBAR’s price, its premium chip NFTs have also seen some growth over the past few days.

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Click here for AMBCrypto Hedera Price Prediction [HBAR] 2022-2023

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baboons are hungry more

One of Hedera’s highest performing NFTs hungry baboons, As of October 29th, the volume has surpassed 10 million in the last two weeks. The same was retweeted by the NFT Collection’s official Twitter handle.

One of the reasons for this growth is Hederaincreased social mentions and engagement ofAccording to the social media analytics firm Luna Crash, Hedera’s social mentions increased 16% last week. Additionally, the number of social engagements he increased by 19.7% over the aforementioned period.

Not only that, but it also heightened the weighty feelings surrounding Hedera. This indicates that the crypto community’s overall outlook for HBAR is positive.

Source: Santimento

However, the success of some good NFTs and Hedera, there was trouble. His NFTs at HBAR could not compete with other blockchains in terms of NFT growth.

Obstacles to recovery

As you can see from the image below, Hedera It does not yet qualify as a strong contender to other NFT collections. On the contrary, HBAR’s NFT collection has come a long way before being able to compete with the major players in the market.

Source: StockWits NFT

In addition, there were other good points to think about. Hedera’s trading volume has increased significantly over the past week. As you can see below, Hedera’s volume increased from 20 million to 35 million in just a few days.

In addition to its volume, HBAR’s market capitalization continued to grow as well. However, Hedera’s development activity continues to decline over the same period, potentially bucking the rising numbers.

Declining development activity Hedera mirror node issue It may be recognized as a problem. however, Mirror node issue resolved October 27th.

Source: Santimento

At the time of writing, HBAR is trading at $0.0605, up 2.70% over the past 24 hours. coin market capitalizationHowever, its volume fell by 18.15% during the same period.Market capitalization also rose 3.07%, and at press time HBAR Captcha 0.16% of the entire crypto market.

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